Smart Sand, Inc. Announces Second Quarter 2026 Results
Smart Sand, Inc. (NASDAQ: SND) reported second-quarter 2026 revenue of $115.1 million, up from $93.1 million in 1Q 2026 and $85.8 million in 2Q 2025. Net income was $10.2 million. Adjusted EBITDA was $18.7 million, while free cash flow was $(1.4) million. The company expects 2026 sales volumes to rise 10% to 20% vs. 2025 and anticipates positive free cash flow.
How this was made
The 30-second read
Why it matters
The release combines quarterly performance metrics with a forward-looking 2026 sales volume range (up 10% to 20% vs 2025) and an expectation of positive full-year free cash flow, which can drive near-term estimate revisions.
Market read
Traders can update models on volume growth, margin expansion, and cash-flow trajectory, with the main tension being negative 2Q free cash flow versus a stated expectation of positive 2026 FCF.
What to watch
The revenue and margin gains are attributed to higher volumes and slightly higher pricing, but the excerpt highlights freight and transload cost increases; if logistics costs re-accelerate, margins could compress even with volume growth.
Background
Smart Sand is a premium Northern White frac sand supplier and proppant logistics solutions provider.
Ticker impact
Smart Sand reported 2Q 2026 revenue of $115.1M, net income of $10.2M, and guided 2026 sales volumes up 10% to 20% vs 2025.
Near-term bias positive as the volume and EBITDA beats plus 2026 volume guidance can support estimates, though 2Q free cash flow was negative.
The article provides multiple hard datapoints (revenue, net income, contribution margin, Adjusted EBITDA, FCF) and a specific 2026 volume outlook, which are typically estimate-moving for a frac-sand supplier. However, the excerpt ends before full guidance details and does not include consensus comparisons or balance-sheet leverage specifics beyond 'low leverage levels'.
Market effects
Strong Northern White frac sand demand narrative tied to LNG and AI data-center power demand could reinforce bullish sentiment for US frac-sand and logistics-linked proppant supply chains.
Appalachian Basin and Canadian shale demand commentary may support regional optimism for operators and midstream/logistics serving those basins.
LNG export capacity linkage is a macro demand driver for North American gas completions, indirectly relevant to global energy-linked drilling activity.
Counterpoint
Negative 2Q free cash flow of $(1.4)M and higher capex (capital expenditures of $4.8M in the quarter) could pressure near-term equity valuation if investors prioritize cash generation over EBITDA.
Key entities
- public_companySmart Sand, Inc.
NASDAQ-listed frac sand and proppant logistics provider reporting 2Q 2026 results and 2026 volume guidance.
- executiveCharles Young
CEO quoted on record quarterly performance and demand expectations into 2H 2026.
